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Westbank Projects Corp. Announces Platinum Partnership With World Housing, CCC

Purchasers of 'Vancouver House' will Lead First One-for-One Real Estate Gifting

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/30/14 -- Westbank Projects Corp. President, Ian Gillespie today announced his company's partnership with World Housing. This social venture partnership model, means that for every condominium purchased at its newest development, Vancouver House, World Housing is able to build one home for an impoverished family living in a Third World landfill community; 395 homes will be gifted from purchasers of Vancouver House. This is the first Platinum Partnership - a one-for-one commitment - by a developer to World Housing.

"The vision of World Housing and its founders mirrors our own goal of affecting positive change in communities and I believe, will hold meaning for buyers," said Gillespie. "Westbank has always put strong emphasis on social responsibility. Through this initiative, we hope to set a new norm in residential development and inspire buyers, who will ultimately be the driving force."

"We are very excited that Westbank would make such a commitment," said Pete Dupuis, co-founder of World Housing. "Their support will result in more than 2,200 people being able to move from living in the dump to a home with roof over head and a lockable door. The social change created for these families is truly life-changing."

Vancouver House, an innovative world-class development designed by Copenhagen/NY-based architecture firm, Bjarke Ingels Group (BIG), is slated for completion in 2018 with a vision of rejuvenating and creating an entire Vancouver neighbourhood. For each residential unit sold in this development, a home will be build and gifted to a family currently living in a shack in a Cambodian garbage dump community. A typical World Housing home is a 130 square foot, metal insulated structure that rests on elevated supports to protect from the elements. They are equipped with electricity and have a rainwater collection system to provide fresh water.

The World Housing story, including a scale-model of a WH home, is part of the Gesamtkunstwerk Exhibition now open in Vancouver. The exhibition profiles the city's architectural coming-of-age and the Vancouver House development from its inception.

About Westbank Projects Corp.

Established in 1992, with over $12 billion of projects completed or under development, Westbank is active across Canada and expanding into the United States with luxury residential, rental apartments, affordable housing, office, retail, and hotels. The main focus of the innovative practice is on large mixed-use projects with a strong emphasis on sustainability. Its goal is to create a body of work that is improving the cities in which they practice while incorporating a high degree of artistry.

In 2008, Westbank Projects Corp. re-developed Woodward's iconic department store with one tower dedicated to social housing in downtown Vancouver. In 2012 the 60 West Cordova project introduced an affordable housing component and the recently approved Oakridge redevelopment will include residential units for low-income families and seniors.

About World Housing

World Housing is the world's first one-for-one real estate gifting model. The founding purpose is to create sustainable social change by building and gifting homes to qualified, deserving families that live and sustain themselves around third world garbage dump communities. For every condominium sold at a certified World housing project a contribution is made by the developer to build a home for a dump dweller family. The buyer is critical. Without him or her, there is no one-for-one transaction. By choosing to purchase a residence at a World Housing certified project, a buyer chooses to provide housing to a family living in a garbage dump.

World Housing's social mission is to provide homes to 30,000 deserving people by 2020. World Housing homes not only put roofs over heads, they foster an environment where people can begin to overcome poverty and families can flourish without fear.

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